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Chapter 9 - Determining Fair and Reasonable Pricing

Chapter highlights:

Purpose: This chapter covers the process for determining a fair and reasonable price related to information technology (IT) procurements.

Key points:

  • All IT procurement professionals have a fiduciary responsibility to analyze the price or cost the Commonwealth pays for its IT goods and services.
  • A fair and reasonable price is characterized by factoring industry and market pricing with the expected value and quality of products, solutions and/or services to be received. Fair and reasonable does not necessarily mean the lowest offer.
  • Fair and reasonable pricing is determined by conducting either a price analysis or cost analysis.

In this chapter

9.1 Fair and reasonable pricing
9.2 Price or cost analysis requirement

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